The ratio of the total amount of bids received by the Treasury over the actual amount of securities to be sold is known as the cover. It is a measure of the strength of the public's interest in the securities being sold.

Question

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The cover ratio measures the demand for a security offering by comparing the total bids received to the amount actually sold, indicating the level of interest and the auction's success.

The Ratio of the Total Amount of Bids Received by the Treasury